Gold futures gain on spot demand

Gold prices on Wednesday rose by Rs 34 to Rs 46,905 per 10 gram in futures trade as speculators created fresh positions on a firm spot demand.

On the Multi Commodity Exchange, gold contracts for June delivery traded higher by Rs 34, or 0.07 per cent, at Rs 46,905 per 10 gram in a business turnover of 10,437 lots.

Fresh positions built up by participants led to the rise in gold prices, analysts said.

Gold prices traded 0.02 per cent higher at USD 1,776.30 per ounce in New York.

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